- January 19, 2017
- Posted by: amdaindia
- Category: Urban News
The New Delhi Municipal Council (NDMC) recently presented its budget for 2017-18 with ???Smart City??? project yet again topping the agenda along with the installation of LED streetlights, e-governance, automated parking facility and free Wi-Fi.
In his maiden budget as NDMC Chairman, Naresh Kumar projected total receipts of Rs 3,627.08 crore against a total estimated expenditure of Rs 3,621.62 crore.
???Smart City??? has been the focus of NDMC budget for the third consecutive year with the 2015-16 and 2016-17 budget focusing on initiatives to bag the smart city tag.
???NDMC has established a wholly owned Public Limited Company namely, New Delhi Municipal Council Smart City Limited (SPV). The SPV has received a grant of Rs 194 crore from Urban Development Ministry, and Rs 56 crore from NDMC, thereby bringing the seed capital to Rs 250 crore. I further propose to transfer Rs 44 crore to the SPV in the current financial year and Rs 50 crore in the year 2017-18,??? Kumar said in his budget speech.
NDMC had last year managed to bag the coveted ???Smart city Project??? ??by Urban Development (UD) Ministry and had rolled out various initiatives under it.
Source : Urbanewsdigest